Nvidia shares tumble over investigation into Huang's affair with alleged Chinese spy
Hundreds of billions of dollars have been wiped off the value of Nvidia following the US chipmaker revealed an independent investigation would be carried out into its chief executive's affair with an alleged Chinese spy. The tech firm saw its shares fall by around 6%…
In this article
In the latest China economy update, Hundreds of billions of dollars have been wiped off the value of Nvidia following the US chipmaker revealed an independent investigation would be carried out into its chief executive's affair with an alleged Chinese spy, according to BBC Business. The tech firm saw its shares fall by around 6% on Monday after Jensen Huang admitted having an extramarital affair.
Key points
- The news of the investigation sparked a sell-off in Nvidia's shares, with around $250bn (£190bn) wiped of the business's value.
- Alice Huang was managing director of Singaporean business Megaspeed, which has had dealings with Nvidia.
- US President Donald Trump noted the Nvidia boss was an "honourable guy".
What happened: China economy
Alice Huang was managing director of Singaporean business Megaspeed, which has had dealings with Nvidia. US President Donald Trump noted the Nvidia boss was an "honourable guy". Still, the news of the investigation sparked a sell-off in Nvidia's shares, with around $250bn (£190bn) wiped of the business's value.
Why China economy matters for traders
China is the world's largest commodity importer, so its growth outlook and policy decisions affect metals, oil and the currencies of trading partners such as Australia and New Zealand.
Stimulus measures or weak data from China can quickly shift sentiment in Asian markets, industrial commodities and the Australian dollar.
Market reaction and data
Crypto prices at the time of writing, from Binance spot data (2026-11-09 18:13 UTC):
| Asset | Last price (USDT) | 24h change | 24h high | 24h low |
|---|---|---|---|---|
| Bitcoin (BTC) | 74,804.00 | -1.41% | 75,970.00 | 73,510.00 |
| Ethereum (ETH) | 2,127.65 | -4.74% | 2,237.35 | 2,060.00 |
What to watch next for China economy
Watch for Chinese activity data, policy support announcements from Beijing and moves in the yuan and commodity-linked currencies.
Key scheduled releases on the economic calendar:
- USD Core CPI m/m on Tue Nov 10, 13:30 UTC, forecast 0.2%, previous 0.3%
- USD CPI m/m on Tue Nov 10, 13:30 UTC, forecast 0.3%, previous 0.6%
- GBP GDP m/m on Thu Nov 12, 07:00 UTC, forecast 0.0%, previous 0.1%
- USD Core PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.3%, previous 0.7%
- USD PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.4%, previous 1.3%
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FAQ
What is the latest China economy news?
Hundreds of billions of dollars have been wiped off the value of Nvidia following the US chipmaker revealed an independent investigation would be carried out into its chief executive's affair with an alleged Chinese spy.
Why does China matter for forex traders?
China's demand for raw materials and its trade links make its economy a key driver for commodity currencies like the Australian and New Zealand dollars.
Where does this information come from?
This report is based on coverage from BBC Business, checked against market data where available. It is a summary for information only and not investment advice.
Risk warning: This article is for information only and is not investment advice. Trading forex, CFDs, stocks and crypto carries a high risk of losing money. Prices move fast – check live quotes before you trade.
